Gold Coast Florida Regional Center Giving a Fresh New Look to Downtown Hollywood Site

HOLLYWOOD, Fla. – Gold Coast Florida Regional Center (GCFRC) is providing a fresh, new look to the Downtown Hollywood parcel known as Block 40. Situated off the southwestern quadrant of Young Circle, the property includes a building that formerly housed the Great Southern Hotel and various retail shops that are vacant while awaiting redevelopment.

The parcel is getting a full exterior make-over, including removal of extraneous gutters, siding and awnings, exterior patching, roof and downspout repairs, fresh new coat of paint, landscaping and mulching, and installation of a new perimeter fence, among other renovations. The work is expected to be completed by the end of September.

“Crews are already making repairs, painting the buildings in a palette that ties into the rest of Downtown Hollywood and adding silver buttonwood hedges along the parcel to provide an aesthetic, pleasant environment for neighbors and passersby,” said Charles “Chip” Abele, one of four Gold Coast Florida Regional Center founding partners.

“The work taking place right now is an important step in the right direction,” said Hollywood City Manager Cameron D. Benson. “The rehab will ensure the Great Southern doesn’t distract from the character of Downtown Hollywood and creates the framework for future redevelopment of this landmark site.”

The property is owned by the same partners as Hollywood Circle, the first U.S. Citizenship and Immigration Services (USCIS) fully approved Hollywood-based EB-5 development, which is GCFRC’s first project in the city. This second property is listed on GCFRC’s website (www.gcfrc.com) as an upcoming investment opportunity.

Hollywood Circle is a mixed-use project on the northeastern quadrant of Young Circle that will include The Circ, an upscale boutique hotel by Desires Hotels, residential apartments, Publix supermarket, restaurant, and additional retail space. It is expected Hollywood Circle will pump $160 million into the local economy and create approximately 3,000 new jobs. Construction is scheduled to begin in summer 2011.

GCFRC is a federally licensed and approved foreign equity investment fund that focuses on key real estate investment and development opportunities. The regional center is an approved USCIS EB-5 program that facilitates permanent residency status and Green Cards for foreign nationals who invest in the U.S. and job growth.

Regional centers promote economic growth through the creation of jobs, improved productivity, increased export sales and added domestic capital investment. Abele expects GCFRC will generate more than $850 million and bring more than 18,000 jobs to South Florida during the next five years.

About Gold Coast Florida Regional Center
Gold Coast Florida is a U.S. Citizenship and Immigration Services approved regional center with a primary focus on real estate development. GCFRC’s leadership has more than 100 years of combined U.S. and international real estate development experience in portfolios valued at more than $6 billion. The organization currently is accepting investors for EB-5 opportunities in South Florida, an in-demand region where land costs are lower than they have been in years providing tremendous up-side for real estate investors.

Based in Coral Gables, Fla., the company has offices in Hong Kong and Durban, South Africa, and plans to open an office in Latin America. To learn more about Gold Coast Florida as a dependable partner in the EB-5 process, call 1-877-GCFL-EB5 (1-877-423-5325) or visit www.gcfrc.com.